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If I do a 0% APR balance transfer to an existing card, and then I make new purchases to that card at a normal APR, am I correct in assuming any payments will go to the 0% APR balance first? Meaning that I would have to pay down the entire thing in order to prevent interest from accruing on the new purchases?
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# ¿ May 27, 2016 14:14 |
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# ¿ May 15, 2024 18:59 |
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Signed up for the Uber Visa card because 4% back at restaurants/bars is really useful for me. You also get $100 back after spending $500 in the first 90 days. But IIRC, that 90 day countdown seems to start from when you open the account, not when you activate the card, which means that by the card arrives in the mail, you only have 80 days to spend $500. And that's assuming the card doesn't get lost/delayed due to inclement weather. Would've easily hit $500 if I had gotten the card before the holidays, but I only found out about it from friends during New Year's.
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# ¿ Jan 10, 2018 10:56 |
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I didn't realize my Geico was being paid by credit card. If only I had switched it to my Uber Visa, I could've gotten halfway to the $500 spend bonus. PSA for those of you who also assumed your car insurance was being drawn on your checking account.
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# ¿ Jan 15, 2018 07:05 |
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Thoguh posted:How do you not spend $500 in three months if you're getting a card with the intention of meeting minimum spend? Even if you're making minimum wage and operating on a super strict budget that's less than $6 a day in expenditures. Did you just forget to use the card for part of the 90 days or something?
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# ¿ Jan 15, 2018 16:39 |
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Thoguh posted:The Uber card looks like it is chip and pin? That's neat. Is this the first widely available chip and pin card in the US or are there others that I didn't notice?
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# ¿ Jan 18, 2018 13:07 |
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svenkatesh posted:No, chip and signature has. Josh Lyman fucked around with this message at 13:36 on Jan 18, 2018 |
# ¿ Jan 18, 2018 13:32 |
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In a related note, Citi changed my Forward (which I didn’t use) to a ThankYou (which I definitely won’t use). If I ask them to change to a Double Cash, they can deny the request but it shouldn’t hit my credit score either way, right? Also, I always wonder if something like this affects the “average account age” part of a credit score. edit: According to Google, the answer is no to both. Josh Lyman fucked around with this message at 02:54 on Jan 30, 2018 |
# ¿ Jan 30, 2018 02:44 |
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I just did a balance transfer to my Citi Diamond Preferred card and apparently they are willing to send you a physical check. In other words, you can give yourself a 0% APR loan in the amount of your credit limit for just the 3% transfer fee. Weird. Also, Bank of America's e-bill/payment system continues to be turbo garbage. Chase is so far ahead of them it's not even funny.
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# ¿ Jan 30, 2018 08:18 |
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Let's say you do a 0% APR balance transfer and also buy $100 worth of new stuff this month, and your minimum payment is like $35. In order to avoid interest being charged on the new stuff, you'd have to pay $35 plus $100 right? It always seemed to me this was a bit unfair because part of that $35 should be allocated to the $100 worth of new stuff since the $35 is based on the balance transfer amount AND the new stuff.
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# ¿ Feb 6, 2018 11:46 |
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Ancillary Character posted:You need to check the specific terms of your card, but you might not be able to avoid paying interest on that new $100 purchase at all. For a lot of cards, the balance from the balance transfer counts as carrying a balance, which means you lose the grace period for any future purchases, as in you get interest charged on day one of your purchases. RIP my 5% rotating categories.
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# ¿ Feb 7, 2018 02:01 |
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WTF I didn't get any such email for my Amazon Visa. Though to be fair, my Prime membership is currently lapsed.
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# ¿ Mar 1, 2018 05:08 |
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I have a Discover It card that I opened a little over 3 years ago for a balance transfer but since paying that off, I basically don't use it anymore. It's my only Discover card. Is there any way for me to ever be eligible for their cashback match again? Could I close it and wait like 12 months to reopen a new account?
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# ¿ Mar 7, 2018 06:29 |
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astral posted:Could always call and ask if they can apply the cash back match offer to your account. Sometimes they have other offers available.
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# ¿ Mar 7, 2018 11:03 |
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My credit score fell 40 points when our water heater installation was finally charged to one of my credit cards that only has a $3500 limit. If utilization is calculated across all your cards, that doesn’t make sense because I paid down a similar amount on a 0% balance transfer so my total utilization would’ve remained about the same at the moment that statement balance was reported. Is there an addition penalty because that one card has high utilization until I pay the water heater on the next statement?
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# ¿ Apr 10, 2018 14:36 |
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I have 2 BoA credit cards, each with two 0% APR balance transfers. I'm seeing now that my monthly minimum payments are being made to the balance that expires LAST, which kind of defeats the purpose of 0% balance transfer promotions. FYI, I do not use these cards for purchases. My experience with Discover and Citi with multiple 0% balances was that payments went to the earliest expiration first, which is how things should work. Is this just a company by company policy or is BoA illegally loving me? There's an additional weird thing going on where my BoA account balances don't equal the total of the 0% balance transfers, and that difference fluctuates month to month and can be upwards of $90. Josh Lyman fucked around with this message at 08:16 on Jul 10, 2018 |
# ¿ Jul 10, 2018 07:39 |
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Does my credit score take a hit if I’m close to the limit on one of my credit cards because of balance transfers but my overall credit utilization didn’t increase?
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# ¿ Jul 26, 2019 14:01 |
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Lame. My total utilization is like 25% but most of it is on a Discover that’s almost maxed bc it had a 0% balance transfer offer. This seems like it’s handcuffing bc if I ask for a credit line increase on my existing cards to lower my utilization, that Discover card is causing my credit score to be lower which reduces how much they’ll increase my limit.
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# ¿ Jul 26, 2019 16:07 |
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I received a letter from Chase saying they're going to close my Slate card due to inactivity. I have other Chase cards so I could consolidate the credit line which wouldn't hurt my credit utilization. However, I've had the card since 2013 so that'll probably hurt me in terms of average age of open account, right? I can actually call them to keep the account open.
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# ¿ Jul 28, 2019 23:24 |
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George H.W. oval office posted:Just spend 50 bux on it. My question is whether losing an old account is worth it so I don’t have to maintain a card I don’t use it, especially if I can consolidate the credit onto another card.
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# ¿ Jul 29, 2019 05:22 |
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I don’t travel too much and almost all of my discretionary spending is bars and restaurants. Is there anything better than my current Uber Visa that does 4% cash back on those categories year round? I also have an Amazon Prime Visa so that’s 5% for all my boring household purchases.
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# ¿ Aug 4, 2019 23:21 |
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Insane Totoro posted:Yeah that was my fear too.
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# ¿ Aug 13, 2019 17:46 |
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I need a new main CC now that the Uber card is changing. Almost all my discretionary spending is at bars and restaurants, so the 4% really helped. Any suggestions for a new main card? I don’t travel too much. My credit rating is okay, around 750, mainly bc I still have a fair amount of student loan debt. I can pay down some of it with my savings before the February 2020 Uber change to boost my score if that’ll help.
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# ¿ Oct 29, 2019 00:21 |
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Vox Nihili posted:Double Cash is good for 2% everywhere and the Costco card gets you 3% on restaurants and travel. Should I look into the Chase Sapphire products? I already have like 4 CCs through them including the Prime Signature.
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# ¿ Oct 29, 2019 16:19 |
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angryrobots posted:Question for those of you who have used cell phone insurance as a CC benefit-
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# ¿ Nov 10, 2019 20:37 |
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Diva Cupcake posted:I wonder when that change was made. I remember specially asking Amex support in 2018 whether upgrading to the "new" gold would change my account age and they said no. My TransUnion report shows the account open date as 9/2001.
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# ¿ Dec 4, 2019 18:31 |
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What do you guys think about signing up for a business card for personal use? The Chase Ink has a $500 sign up bonus and 1.5% on everything so it’d be a nice everyday card, but I don’t want to use a hard pull if they’ll deny me. Note: I haven’t applied for a CC in 2 years and I already have a Slate, Freedom, Amazon, and checking account with Chase. Josh Lyman fucked around with this message at 15:18 on Dec 15, 2019 |
# ¿ Dec 15, 2019 14:54 |
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Edit
Josh Lyman fucked around with this message at 21:53 on Dec 15, 2019 |
# ¿ Dec 15, 2019 21:38 |
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I’m leaning toward replacing my Uber card with the Capital One Savor. 4% dining with a $95 AF but waived the first year. If I don’t spend 95/0.01=$9,500 going out that first year (difference between Savor’s 4% and the 3% from a no-fee card like BoA Cash Rewards), I’ll just PC to the Savor One to avoid the AF. edit: Got a friend to give me a referral so we can split the $100 credit, approved for my highest credit line yet. Josh Lyman fucked around with this message at 19:33 on Jan 6, 2020 |
# ¿ Jan 6, 2020 16:11 |
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I can get 3% on travel with my BoA Cash Rewards which is no fee and 4% on dining with the Capital One Savor which is $95 AF. I spend a ton on dining but maybe only $500 on travel/year. With that in mind, is there any reason to go for the CSR? At best it seems like there might be some tiny min/max benefit with the $300 travel credit but otherwise it’s not obvious. And I assume the CSP is definitely pointless.
Josh Lyman fucked around with this message at 23:59 on Jan 8, 2020 |
# ¿ Jan 8, 2020 23:52 |
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Motronic posted:Agreed.
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# ¿ Jan 15, 2020 01:35 |
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SiGmA_X posted:You should be basing comparisons on 2%, not 1%, as there are multiple 2% cash back 0 effort cards.
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# ¿ Jan 15, 2020 18:54 |
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Sock The Great posted:Citi Double Cash card is 2% cash back on all purchases. No AF.
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# ¿ Jan 19, 2020 02:49 |
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SiGmA_X posted:I think this is incorrect. My account, opened in 2016 received 4% on fuel last year, and the Your Rewards Details page says:
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# ¿ Jan 19, 2020 19:28 |
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angryrobots posted:I just cashed out my remaining points.... Looks like my account is still generating dining points at 4% as of Monday. I'm not sure if points earned will show up before your next statement date though? Pretty sure the changeover will happen Feb 1. My changeover date is Feb 4 but I’ve already switched my spending to the Savor.
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# ¿ Jan 23, 2020 03:41 |
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For the full Savor which is 4% cash back on restaurants and entertainment and 2% on supermarkets with a $95 AF waived the first year: https://capital.one/2GB7x4e
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# ¿ Jan 29, 2020 20:26 |
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I did a balance transfer that resulted in the destination card going to 50% utilization and my credit score dropped 20 points wtf you jerks my total utilization didn’t change.
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# ¿ Mar 13, 2020 23:10 |
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I know Amex extended their promotional minimum spend period but it doesn't look like anyone else did. I missed my Capital One Savor $3,000/3 month spend by a full $1,000. 4% at bars and restaurants isn't super usable during quarantine. I guess I'll be downgrading to the 3% Savor Cash after 12 months.
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# ¿ Apr 15, 2020 07:53 |
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Ugh Capital One loving me again
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# ¿ Apr 15, 2020 14:42 |
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My Amex Blue Cash Everyday no-fee card lost its extended warranty and return protection: https://www.nerdwallet.com/article/credit-cards/amex-announces-additions-cuts-for-side-perks-in-2020 I’d like to keep an Amex card for big ticket purchases since their extended warranty is great and MasterCard/Visa is a scam, but it looks like I’ll have to go with one of their fee options. At the moment, $95 would get me the Blue Cash Everyday which is 6% on groceries and 3% on transit including ride share (baseline is 2% from Citi Double Cash). Typically I spend more on bars and restaurants than groceries and would get 4% from my Capital One Savor, but who knows whether I’ll ever get back to that routine post-coronavirus. Are there other options I should be considering?
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# ¿ Jun 29, 2020 14:45 |
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# ¿ May 15, 2024 18:59 |
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astral posted:The BCP is great for that and you should keep an eye out for an upgrade offer. They used to be quite frequent; can't speak about post-covid. I actually bought $1200 in furniture last week with my Citi Double Cash but the furniture doesn’t have a warranty per se and I don’t think Amex would cover it anyway. sigh:
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# ¿ Jun 29, 2020 23:22 |